Accounting Software Market, By Deployment Type (On-premise, Cloud-based), By Type (Payroll Management Software, Spreadsheets, Billing & Invoice Software, and Others), By Component (Solution, Services), By End-Users (BFSI, Retail, Government & Public Sector, IT & Telecom, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032

Report Code: PMI521723 | Publish Date: November 2023 | No. of Pages: 170

Accounting Software Market Overview

The Accounting Software Market accounted for US$ 16.9 billion in 2022 and is estimated to be US$ 84.0 billion by 2032 to grow at CAGR of 18.1%.

Accounting Software helps in managing & recording the day-to-day financial transactions of organizations which includes, expense management, asset management, revenue management, accounts payable, accounts receivable, reporting & analytics and sub ledger accounting.

Accounting Software Market Dynamics

Drivers

Restrains

Adoption of technology coupled with growing demand for cloud computing.

Data security & privacy concern

Presence of small & medium sized enterprises.

Additional costs

Increased investment for AI (artificial intelligence) oriented accounting software.

 
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Accounting Software Market Segmentation

The target market is segmented based on Deployment Type, Type, Component, End-Users and Region.

Deployment Type Insight

On the basis of Deployment Type, the target market is segmented On-premise, Cloud-based.

Type Insight

On the basis of Type, the target market is segmented into Payroll Management Software, Spreadsheets, Billing & Invoice Software, Enterprise Accounting Software, Commercial Accounting Software, and Custom Accounting Software.

Component Insight

On the basis of Component, the target market is segmented Solution, Services.

End-Users Insights

On the basis of End-Users, the target market is segmented into BFSI, Retail, Government & Public Sector, IT & Telecom, Manufacturing, Media & Entertainment, Energy & Utilities, Pharmaceutical & Healthcare, and Others.

Regional Insights:

On region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America market is estimated to witness a significantly high revenue share over the forecast period due to well-developed IT infrastructure, continuous technological development and growing usage of accounting software in finance and banking for improving business & customer experience.

Asia Pacific market is estimated to witness a fastest revenue share over the forecast period due to increased investment of small & medium enterprises for adoption of software, and rising emergence of banking & financial sector in emerging economies like India and China.

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Report Scope:

Attribute

Details

Base year for estimation

2022

Forecast period

2022 – 2032

Market representation

Revenue in USD Billion & CAGR from 2022 to 2032

Market Segmentation

By Deployment Type - On-premise, Cloud-based

By Type - Payroll Management Software, Spreadsheets, Billing & Invoice Software, Enterprise Accounting Software, Commercial Accounting Software, and Custom Accounting Software

By Component - Solution, Services

By End-Users - BFSI, Retail, Government & Public Sector, IT & Telecom, Manufacturing, Media & Entertainment, Energy & Utilities, Pharmaceutical & Healthcare, and Others

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032.

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Accounting Software Market Key Players

The key players operating the target market includes, Intuit Inc., Infor Inc., Kingdee International Software Group (HK) Ltd., Tally Solutions Pvt. Ltd., Microsoft Corporation, Assist Cornerstone, Oracle Corporation, SAP SE, Xero Ltd, Sage Group Plc., and others.

Recent Development:

 The New Launched Product News,

  • In September 2023, Intuit launched new artificial intelligence (AI) assistant software tool for its full set of tax, financial and accounting software. The Intuit has planned to make the tools which will be available to all users without any additional charges, will able to boost the usage and thus, help in improving cross-selling.

Strategic Acquisitions and Partnership News,

  • In August 2023, Vela Software Group acquired GreatSoft a South African provider of practice management solutions to accountancy firms for an undisclosed amount. GreatSoft offers cloud-based practice management software which is designed to help accounting firms to manage better clients, employees, scalable and centralized platform. It also integrates with MYOB’s own practice software to build a single view of company’s practice.

Accounting Software Market Company Profile

  • Intuit Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Infor Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Kingdee International Software Group (HK) Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Tally Solutions Pvt. Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Microsoft Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Assist Cornerstone
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Oracle Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • SAP SE
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Xero Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Sage Group Plc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies

Accounting Software Market Table of Contents

Research Objective and Assumption

  • Preface
  • Research Objectives
  • Study Scope
  • Years Considered for the study
  • Assumptions
  • Abbreviations

Research Methodology

  • Research data
  • Primary Data
    • Primary Interviews
    • Primary Breakdown
    • Key data from Primary Sources
    • Key Thickness Insights
  • Secondary Data
    • Major Secondary Sources
    • Secondary Sources
  • Market Estimation
  • Top-Down Approach
    • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
  • Bottom-Up Approach
    • Approach for estimating market share by Bottom-up Analysis (Demand Side)
  • Market Breakdown and Data Triangulation
  • Research Assumptions

Market Preview

  • Executive Summary
  • Key Findings—Global Outlook for medical carts Strategies
    • Key Questions this Study will Answer
    • Market Snippet, By Deployment Type
    • Market Snippet, By Type
    • Market Snippet, By Component
    • Market Snippet, By End-Users
    • Market Snippet, By Region
  • Opportunity Map Analysis
  • Executive Summary—3 Big Predictions

Market Dynamics, Regulations, and Trends Analysis

  • Market Dynamics
    • Drivers
    • Restrains
    • Market Opportunities
    • Market Trends
  • DR Impact Analysis
  • PEST Analysis
  • Porter’s Five Forces Analysis
  • Opportunity Orbit
  • Market Investment Feasibility Index
  • Macroeconomic Factor Analysis

Accounting Software Market, By Deployment Type, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • On-premise
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Cloud-based
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Accounting Software Market, By Type, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
    • Payroll Management Software
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Spreadsheets
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Billing & Invoice Software
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Enterprise Accounting Software
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Commercial Accounting Software
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Custom Accounting Software
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Accounting Software Market, By Component, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Solution
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Services
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Accounting Software Market, By End-Users, Forecast Period up to 10 Years, (US$ Bn)

  • Overview                                      
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • BFSI
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Retail
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Government & Public Sector
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • IT & Telecom
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Manufacturing
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Media & Entertainment
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Energy & Utilities
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Pharmaceutical & Healthcare
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Others
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Accounting Software Market, By Region, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Regional Trends
  • North America
    • Market Size and Forecast (US$ Bn), By Deployment Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Component, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By End-Users, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • U.S.
      • Canada
  • Europe
    • Market Size and Forecast (US$ Bn), By Deployment Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Component, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By End-Users, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • UK
      • France
      • Germany
      • Russia
      • Italy
      • Rest of Europe
  • Asia Pacific
    • Market Size and Forecast (US$ Bn), By Deployment Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Component, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By End-Users, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • India
      • Japan
      • South Korea
      • China
      • Rest of Asia Pacific
  • Latin America
    • Market Size and Forecast (US$ Bn), By Deployment Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Component, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By End-Users, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
    • Market Size and Forecast (US$ Bn), By Deployment Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Component, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By End-Users, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East

Competitive Landscape

  • Heat Map Analysis
  • Market Presence and Specificity Analysis

Company Profiles

  • Intuit Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Infor Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Kingdee International Software Group (HK) Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Tally Solutions Pvt. Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Microsoft Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Assist Cornerstone
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Oracle Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • SAP SE
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Xero Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Sage Group Plc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies

The Last Word

  • Future Impact
  • About Us
  • Contact

FAQs

The growing adoption of innovative technology such as AI (artificial intelligence) to increase business productivity for enhancing business operation of small & medium-scale industries and rising trend of automation in accounting process to eliminate manual tasks and to enhance efficacy has boost the industrial demand.

By region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.

The key players operating the target market includes, Intuit Inc., Infor Inc., Kingdee International Software Group (HK) Ltd., Tally Solutions Pvt. Ltd., Microsoft Corporation, Assist Cornerstone, Oracle Corporation, SAP SE, Xero Ltd, Sage Group Plc., and others.